Legal & General Group Plc Buys Shares of 699,998 First Industrial Realty Trust, Inc. $FR

Legal & General Group Plc bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 699,998 shares of the real estate investment trust’s stock, valued at approximately $42,917,000. Legal & General Group Plc owned about 0.53% of First Industrial Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its stake in shares of First Industrial Realty Trust by 2.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 163 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 4.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock valued at $258,000 after acquiring an additional 183 shares in the last quarter. Quadrant Capital Group LLC grew its position in First Industrial Realty Trust by 2.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 211 shares during the last quarter. Fifth Third Bancorp grew its position in First Industrial Realty Trust by 16.0% during the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 242 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in First Industrial Realty Trust by 1.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,870 shares of the real estate investment trust’s stock worth $852,000 after purchasing an additional 260 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on FR shares. Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Truist Financial upped their price objective on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Citigroup lifted their target price on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.07.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $61.93 on Friday. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 22.60 and a beta of 1.04. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. First Industrial Realty Trust, Inc. has a twelve month low of $50.24 and a twelve month high of $69.88. The stock has a fifty day simple moving average of $64.31 and a 200 day simple moving average of $62.23.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.22). First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The company had revenue of $194.94 million for the quarter, compared to analyst estimates of $195.81 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Sell-side analysts expect that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. First Industrial Realty Trust’s payout ratio is currently 72.99%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.